MUMBAI, INDIA--(Marketwired - Apr 21, 2014) - Groupe Athena, Inc. (OTC Pink: GATA) (PINKSHEETS: GATA) announced today revenues of $14,471,625 for the period ending March 31, 2014, an increase of $1,093,173 over the same period in 2013. Gross earnings before depreciation, amortization and taxes were $2,384,395 and net income was $1,438,956 or $.031 per share.
Total revenues for the 9 month period this fiscal year were $51,195,666 which is well on pace to meet or exceed the previously announced 12 month guidance. Net earnings for the same period were $5,132,140, just shy of .11 per share.
Cash reserves in the form of short term investments and deposits are extremely healthy and the Company's backlog of orders is larger than ever and growing while long term debt remains virtually non-existent.
The Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. All of these exporter companies are potential clients and the Company believes it has an advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth.
The company also continues to negotiate with several Indian drug companies for the manufacture of generic pharmaceuticals that the company intends to market in the United Kingdom under the anticipated license they are in the process of applying for.
About Groupe Athena, Inc.
Groupe Athena, Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is a research and testing organization and helps various pharmaceutical and medical products and devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.
The company has a research and marketing facility in India that employs 19 consultants and is working towards aggressively expanding its presence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.com.
To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials."
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